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JPMorgan plans capped knock-in return enhanced notes on Nikkei
By Susanna Moon
Chicago, March 24 – JPMorgan Chase & Co. plans to price 0% capped knock-in return enhanced notes due July 7, 2016 linked to the JPX-Nikkei Index 400, according to an FWP filing with the Securities and Exchange Commission.
A knock-in event occurs if the index closes below the 95% knock-in level on any day during the life of the notes.
If the index finishes above the initial level and a knock-in event has not occurred, the payout will be par plus 200% of the index gain, up a maximum return of 15.4%.
If the index gains and a knock-in event has occurred, the payout at maturity will be par plus 300% of the gain, capped at 23.1%.
Investors will be exposed to any losses.
J.P. Morgan Securities LLC is the agent.
The notes will price on March 27 and settle on April 1.
The Cusip number is 48125UKX9.
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